Ukrainian Vice Prime Minister Mykhailo Fedorov has announced that the country has decided to cancel the airdrop for crypto donors and plans to raise more money through the sale of non-fungible tokens (NFTs) instead.
He stated in a tweet, “After careful consideration, we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the aggression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens.”
Many analysts are attributing the reason for the cancellation of the airdrop to a fake account that created 7 billion “Peace World Tokens,” making it seem like it was the official airdrop token for crypto donors. The fake airdrop began almost an hour before the officially announced time but was flagged immediately by Etherscan. A couple of hours later, Fedorov announced that Ukraine plans to use NFTs instead, and has given up plans of offering any fungible tokens.
What you should know
- The official Ukrainian crypto wallet for donations reportedly received $7 million in donations after the airdrop announcement, which became a topic of debate on Crypto Twitter.
- While the minister did not give an official reason for the cancellation of the airdrop, some in the crypto community were not happy about the U-turn, while others found some humour in the situation. Twitter influencer going by the handle Cobie, commented stating, “This is the best rug ever.”
- The Ukrainian government has turned to the use of cryptocurrencies to gather more support from people all over the world as the permissionless and borderless nation of cryptocurrencies helps to make donations easier and faster.
Last Saturday, the official Twitter account for Ukraine shared Bitcoin (BTC) and Ethereum (ETH) wallet addresses along with a call for help from the crypto community all over the world. Upon the crypto community’s request to add more crypto support, the official donation wallet went on to add Polkadot and Dogecoin wallet addresses as well.
Reports suggest that the official donation wallet for Ukraine has received a total of $37 million in tracked crypto donations.